Fri, 5 December
-1.9 C
Yerevan
USD: 381.14 RUB: 4.94 EUR: 444.68 GEL: 141.15 GBP: 508.59

Crisis has not forced Armenian labor migrants to return back

YEREVAN, November 3, /ARKA/. Gagik Yeganian, chief of the Migration Agency, an affiliation of the Armenian Territorial Management Ministry, said today the global economic crisis has not forced Armenian labor migrants, the majority of whom are in Russia, to return back to their country.

He said earlier forecasts that the crisis would force Armenian migrants living and working for several years in foreign countries to return back to their country proved incorrect.

Gagik Yeganian said the predictions had been prompted by the worsening situation in Russia’s labor markets with millions of people losing their jobs in the first months of the year.

According to Gagik Yeganian, the majority of Armenian labor migrants have not lost their jobs ‘because two third of them rent homes and if they did not have jobs they could not rent homes.’

“From the psychological perspective, the crisis is to be over sometime and these people decided to wait until then,’ Yeganian said.-0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

USD, EUR and RUB exchange rates rise against Armenian dram 

The average market exchange rate of the U.S. dollar to the Armenian dram on May 21, 2025, rose by 0.14 points to AMD 385.06 compared to May 20.

LATEST NEWS

spot_imgspot_imgspot_img